Mercury Systems beats Q2 revenue estimates, backlog up 8.8%

Mercury Systems

03/02/2026 21:10

Overview

Defense tech firm's Q2 revenue beat analysts' expectations

Adjusted EBITDA beat analysts' expectations

Net loss narrowed to $15 mln from $17.6 mln

Company reported record backlog of $1.5 bln, up 8.8% yr/yr

Outlook

Company did not provide specific guidance for future quarters or full year

Result Drivers

HIGH-PRIORITY PROGRAMS - Mercury Systems attributed Q2 results to accelerated progress on high-priority customer programs, per CEO Bill Ballhaus

STRONG BOOKINGS - Mercury Systems achieved Q2 bookings of $288 mln, contributing to a book-to-bill ratio of 1.23

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$233 mln
$210.85 mln (9 Analysts)
Q2 Net Income
-$15 mln
Q2 Adjusted EBITDA
Beat
$30 mln
$21.15 mln (9 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the aerospace & defense peer group is "buy"

Wall Street's median 12-month price target for Mercury Systems Inc is $95.00, about 1.2% above its February 2 closing price of $93.89

The stock recently traded at 73 times the next 12-month earnings vs. a P/E of 69 three months ago

Press Release: ID:nGNXbjY7XS

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)